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Information related to share certificate and share capital

As per Bye-Laws Share Certificates must be issued to every member of the society, for the shares that are subscribed by him, stating the particulars, as stated within a period of six months of the allotment of Shares. The share certificates must bear the seal of the society and be signed by the Chairman, secretary, and one committee member, who is duly authorized by the committee on the committee’s behalf.

Duplicate Share Certificate

Under Maharashtra Societies Act, 1960, Maharashtra Societies Act, 1961 or the Model bye-Laws, there is no provision regarding the issue of the duplicate share certificate to a member, in place of an original share certificate that is lost/misplaced/mislaid or is not traceable etc.

However, in such a scenario, the concerned member should make an application to the society for the issuance of Duplicate Share Certificate to him. After passing a resolution to that effect a duplicate share certificate may be issued to the concerned member of society. It is not necessary for the for the society to issue a public notice announcing the loss in a widely circulated newspaper.

However, an undertaking/Indemnity Bond on a stamp paper is an obligatory document that needs to be submitted to the society. This will act as a safeguard and protect the society against unauthorized use or be dealing with the share certificates issued. The society may also display a notice for the same on its society notice board.

5 thoughts on “Information related to share certificate and share capital

  • Sir, ours is a old coop. hsg. society in pune , completed almost 25 years. Some of the members do not hold share certificates for various reasons, they are not ready to make expenditure for duplicate certificate and desires to have new share certificates from society. Some of the managing committee members are making a claim that they would cancell all old certificates of Rs.25/-by holding special meeting and then issue new certificates of Rs.50/- each as per new provisions.
    I have great objection and opposition to such an act. I think they have no power to cancell old certificates as it amounts to making nil the share capital, which is against the existence of society. They can at the most take again Rs.500/- and issue new certificates to all.
    Kindly advise.

  • sir,
    Can a registered cooperative housing society not give a registered member his share certficate if his maintenance dues are unpaid.

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